Sicom to launch rubber clearing service with Sino Rubber
Singapore Commodity Exchange (Sicom) will start to clear over-the-counter rubber contracts which will be physically delivered in China.
It has signed an agreement with China’s Sino Rubber Electronic Trading Market (Sino Rubber) to collaborate on the launch of a clearing service.
China has become one of the biggest importers and users of rubber.
Sino Rubber will facilitate delivery of the contracts that are cleared in Sicom.
It is expected to launch by the second quarter of 2010.
Jeremy Ang, Sicom’s chief executive, said in a statement that: “The partnership with Sino Rubber, China’s largest market for natural rubber trading, will anchor Sicom as the pricing benchmark for physical rubber.”
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